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GFH takes $300m Dubai project provision
- Bahrain: Thursday, December 31 - 2009 at 09:21
Bahrain's Gulf Finance House has announced it had taken a provision of $300m over its exposure to a Dubai development project, Reuters has reported. 'Gulf Finance House will take a $300m (non-cash) charge against its proprietary Dubailand position and correspondingly reduce the liabilities on its balance sheet by $290m. GFH has no remaining material exposure to Dubai,' the Islamic lender said in a statement.
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StaffThursday, December 31 - 2009 at 09:21 UAE local time (GMT+4)
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